Who Pays More when the Tax Cuts Expire? Ep 370

What could happen to our taxes if the 2017 Tax Cuts and Jobs Act (TCJA) expires in 2025? This week, we explore a Wall Street Journal article analyzing the TCJA's potential expiration and its varied impacts across the U.S. from coast to coast.  These tax cuts, enacted under President Trump, included reductions across multiple income brackets, increased standard deductions, and expanded child tax credits. However, when they're set to expire, the shift could mean substantial tax hikes for many households. The discussion centers on the unique impact of these changes in different regions, showing how factors like income levels and state taxes could influence the extent of the increase. Outline of This Episode [0:20] What happens if the 2017 tax cuts expire? [3:00] Impact of the TCJA's expiration on different regions [4:47] Where tax increases will be highest [5:45] Bay Area faces double pressure [6:05] Retirees in Collier County, Florida, brace for tax changes [7:50] Rural areas face modest tax impacts [12:21] Listener Question: Social Security & retirement timing Resources & People Mentioned The Retirement Podcast Network Where Taxes Would Rise the Most if Trump's Tax Cuts Expire Retirement Starts Today Tax Tool: retirementstartstoday.com/tax Connect with Benjamin Brandt Become a Client: www.retirementstartstoday.com/start Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Join the newsletter: https://retirementstartstodayradio.com/newsletter Dive deeper into retirement planning with Ben at www.RetirementIncome.University Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify